TATA Housing to buy land

Tata Housing plans to invest Rs 3,000 crore to acquire more land, including joint development agreements, across major Indian cities in the current financial year. The company will focus on four metros Bengaluru, Kolkata, Delhi NCR, and Mumbai both in the premium and affordable category. While the proposed premium homes will cost between Rs 6,500 and Rs 12,000 per sq ft, spread over 900 sq ft to 3,500 sq ft each, affordable homes will cost below Rs 40 lakh, between 450 sq ft and 1,250 sq ft. Tata Housing plans to launch about 65 per cent of the houses in the premium segment, while the rest will be in the affordable category. The move will help Tata Realty add 90 mn sq ft of additional property in the next one year through new launches.